Seamount Financial Group Inc. Sells 270 Shares of Blackstone Inc. (NYSE:BX)

Seamount Financial Group Inc. trimmed its position in Blackstone Inc. (NYSE:BX) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,193 shares of the asset manager’s stock after selling 270 shares during the quarter. Seamount Financial Group Inc.’s holdings in Blackstone were worth $895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BX. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in Blackstone in the fourth quarter valued at approximately $28,000. Berbice Capital Management LLC purchased a new position in Blackstone during the 4th quarter worth approximately $34,000. Kieckhefer Group LLC purchased a new stake in Blackstone in the fourth quarter valued at $39,000. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup raised their target price on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Piper Sandler upped their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. BMO Capital Markets upped their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group lifted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Stock Performance

BX opened at $170.11 on Friday. The stock’s 50 day moving average price is $178.78 and its two-hundred day moving average price is $163.28. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $122.82 billion, a P/E ratio of 46.86, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities analysts forecast that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.39%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 94.77%.

Blackstone Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.